Thornwell Charter School

Thornwell Charter School shows rapid financial growth and no reported officer compensation.

EIN: 204272566 · Clinton, SC · NTEE: B29 · Updated: 2026-03-28

$5.6MRevenue

$2.9MAssets

90/100Mission Score (Excellent)

B29

About Thornwell Charter School

Thornwell Charter School (EIN: 204272566) is a nonprofit organization based in Clinton, SC, classified under NTEE code B29. The organization reported total revenue of $5.6M and total assets of $2.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Thornwell Charter School's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Thornwell Charter School demonstrates a strong and consistent growth trajectory in its financial health, with revenue increasing from $208,951 in 2019 to $4,386,310 in 2023. The organization consistently operates with a surplus, as seen in 2023 where revenue of $4,386,310 exceeded expenses of $4,080,972. This indicates sound financial management and the ability to build assets, which have grown significantly from $40,222 in 2019 to $2,031,514 in 2023.

The spending efficiency appears robust, particularly given its mission as a charter school. While specific program, administrative, and fundraising breakdowns are not explicitly detailed in the provided summary, the consistent operational surplus suggests that expenses are managed effectively relative to the services provided. The absence of officer compensation reported across all available filings is a significant indicator of strong financial stewardship and a commitment to directing resources towards the organization's mission.

In terms of transparency, the organization has a consistent filing history with 13 filings, indicating adherence to IRS reporting requirements. The lack of reported officer compensation across all periods is a positive transparency signal, suggesting that leadership is either volunteer-based or compensated through other means not categorized as officer compensation, which is common in some educational non-profits. Overall, Thornwell Charter School appears to be a financially healthy and responsibly managed organization.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Thornwell Charter School with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 10%
programs: 85%
fundraising: 5%

According to IRS 990 filings, Thornwell Charter School allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

No officer compensation has been reported in any of the available IRS 990 filings, which is highly unusual for an organization with over $4 million in annual revenue and suggests a strong commitment to directing funds towards its mission rather than executive salaries.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Strengths

The following positive indicators were identified for Thornwell Charter School:

Rapid and consistent revenue growth, from $208,951 in 2019 to $4,386,310 in 2023.
Consistent operational surpluses, with revenue exceeding expenses in all recent periods (e.g., $4,386,310 revenue vs. $4,080,972 expenses in 2023).
Significant asset accumulation, growing from $40,222 in 2019 to $2,031,514 in 2023.
No reported officer compensation across all 13 filings, indicating a strong commitment to mission-focused spending.
Consistent IRS 990 filing history, demonstrating transparency and compliance.

Frequently Asked Questions about Thornwell Charter School

Is Thornwell Charter School a good charity?

Based on its strong financial growth, consistent operational surpluses, and the absence of reported officer compensation, Thornwell Charter School appears to be a well-managed and efficient organization, suggesting it is a good charity in terms of financial stewardship.

How has Thornwell Charter School's revenue grown over time?

Thornwell Charter School has experienced significant revenue growth, increasing from $208,951 in 2019 to $4,386,310 in 2023, demonstrating rapid expansion and increasing financial capacity.

What is the organization's asset growth trend?

The organization's assets have grown substantially, from $40,222 in 2019 to $2,031,514 in 2023, indicating successful accumulation of resources to support its operations and future growth.

Filing History

IRS 990 filing history for Thornwell Charter School showing financial trends over 13 years of public records:

Total assets increased by 203151300% over the same period, from $1 to $2.0M. In its most recent filing year (2023), Thornwell Charter School reported a surplus of $305K, with revenue exceeding expenses. The organization holds $606K in liabilities against $2.0M in assets (debt-to-asset ratio: 29.8%), resulting in net assets of $1.4M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$4.4M	$4.1M	$2.0M	$606K	—	—
2022	$3.2M	$2.9M	$1.4M	$329K	—	View 990
2021	$3.1M	$2.7M	$977K	$174K	—	View 990
2020	$2.3M	$1.8M	$664K	$267K	—	View 990
2019	$209K	$223K	$40K	$54K	—	View 990
2018	$0	$115	$885	$0	—	View 990
2017	$0	$0	$1	$0	—	View 990
2016	$0	$0	$1	$0	—	View 990
2015	$0	$0	$1	$0	—	View 990
2014	$0	$0	$1	$0	—	View 990
2013	$0	$0	$1	$0	—	View 990
2011	$0	$0	$1	$0	—	View 990
2010	$0	$0	$1	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $4.4M, expenses of $4.1M, and assets of $2.0M (revenue +37.6% year-over-year).
2022: Revenue of $3.2M, expenses of $2.9M, and assets of $1.4M (revenue +1.2% year-over-year).
2021: Revenue of $3.1M, expenses of $2.7M, and assets of $977K (revenue +39.9% year-over-year).
2020: Revenue of $2.3M, expenses of $1.8M, and assets of $664K (revenue +977.2% year-over-year).
2019: Revenue of $209K, expenses of $223K, and assets of $40K.
2018: Revenue of $0, expenses of $115, and assets of $885.
2017: Revenue of $0, expenses of $0, and assets of $1.
2016: Revenue of $0, expenses of $0, and assets of $1.
2015: Revenue of $0, expenses of $0, and assets of $1.
2014: Revenue of $0, expenses of $0, and assets of $1.
2013: Revenue of $0, expenses of $0, and assets of $1.
2011: Revenue of $0, expenses of $0, and assets of $1.
2010: Revenue of $0, expenses of $0, and assets of $1.

Data Sources and Methodology

This transparency report for Thornwell Charter School is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.